Month: February 2024

Will SOL Hit $120 Before Valentine’s?

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Solana, the high-speed blockchain platform, is back in the green after a rollercoaster week. Its native token, SOL, triumphantly hit the $105 mark today, defying naysayers and sparking renewed optimism. But is this just a fleeting bounce, or the start of a sustained climb towards $120 before Valentine’s Day? Source: Coingecko Defi Frenzy Heats Up, Injecting Millions Into Solana The key driver behind this recent surge seems to be the red-hot DeFi scene on Solana. Total Value Locked (TVL), a metric indicating the combined value of crypto assets deposited in…

This Memecoin Can ‘Rival Dogecoin And Shiba Inu’: Crypto CEO

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Andrew Kang, co-founder of Mechanism Capital, has recently stirred the crypto community with his announcement on X (formerly Twitter) about the firm’s strategic shift towards a highly specific and potentially volatile segment of the crypto market: Trump-themed meme coins and NFTs. This move marks Mechanism Capital’s pioneering investments for 2024, targeting a niche yet explosive area of digital assets that intertwine the realms of politics and meme culture. Leveraging The Attention Economy At the heart of Mechanism Capital’s investment strategy is the concept of the attention economy, which Kang describes…

Bankrupt lender Genesis Global strikes settlement over NY fraud claims

Genesis Global, a bankrupt cryptocurrency lender, has reached a settlement with New York Attorney General Letitia James over allegations of defrauding customers through its now-defunct Gemini Earn program. The latest settlement aims to return assets to former Earn customers and other Genesis creditors, pending approval by a bankruptcy judge. The lawsuit, filed by James in October against Genesis, Digital Currency Group (its parent company), and Gemini, accused the firms of misleading customers, resulting in losses of $1.1 billion. The recent court settlement, however, only addresses the claims against Genesis. Under…

Cardano (ADA): Green Shoots Emerge

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Cardano (ADA), the eighth largest cryptocurrency by market capitalization, is experiencing a surge of excitement among investors. A 10% price increase within the past 24 hours has fuelled optimism, further amplified by crypto analyst Ali Martinez’s prediction of a potential 32% jump to $0.68. Martinez’s prediction is based on both technical analysis and recent positive price movements. Cardano: No More Downtrend – For Now One key technical indicator identified by Martinez is the descending triangle pattern on the daily chart. This pattern often foreshadows the end of a downtrend, offering…

Bitcoin (BTC) Price Hovers Over $46K as Year of ‘Long’ Begins, Easing ETF Selloff

“Bitcoin rose above its 50-day moving average late Wednesday, confirming the bullish medium-term trend and easing fears of a deeper correction,” said Alex Kuptsikevich, FxPro senior market analyst, in an email to CoinDesk. “On a weekly basis, bitcoin and the broader crypto market have gained strength after a long period of consolidation and are now poised to make new highs.” Source

Bitcoin Breaches $46,000, Eyes $50K As Bullish Sentiment Returns

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For the first time since the spot ETFs’ debut trade on January 11, Bitcoin (BTC) has surpassed $46,000. According to data from Coingecko, BTC had increased 3.4% in the previous day to $46,075 at the time of publication, maintaining a 6% increase over the previous seven days. Bitcoin Flexes Muscles, Reclaims $46K Level Despite the approval of several eagerly awaited exchange-traded funds that were meant to strengthen its institutional legitimacy, Bitcoin’s 2024 has had a rough start. However, things are improving as Bitcoin is now again trading above the $46k…

ADA Price Is Primed For A Rally And Only 1 Thing Is Holding It Back

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Cardano (ADA) is attempting a fresh increase from the $0.4720 zone. ADA could start a fresh rally if there is a close above the $0.5350 resistance. ADA price is moving higher above the $0.500 zone. The price is trading above $0.512 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $0.510 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could accelerate higher if there is a clear move above $0.535 and $0.550.…